Credit Ratings

Current Credit Ratings for Northern Trust Corporation and The Northern Trust Company

Listed below are the current credit ratings for Northern Trust Corporation and its principal subsidiary, The Northern Trust Company.

Northern Trust Corporation

Standard & Poor's

Moody's

FitchRatings

Individual Rating

--

--

B

Commercial Paper

A-1

P-1

F1+

Senior Debt

A+

A2

AA-

The Northern Trust Company

Standard & Poor's

Moody's

FitchRatings

Individual Rating

--

--

B

Short-Term Deposit/Debt

A-1+

P-1

F1+

Long-Term Deposit/Debt

AA-

A1

AA/AA-

A security rating is not a recommendation to buy, sell or hold securities. The rating may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating should be evaluated independently of the other ratings.